A tanker struck in the Hormuz Strait on September 1, 2026, has raised worries over an escalation in tensions between the US and Iran, with President Trump vowing to hit Iran 'hard'.[1295502] The US and Iran have traded strikes in the region, marking the first time they have engaged in hostilities in over a month, according to a report from August 31, 2026.[1295502][1254749] President Trump recently stated that the US economy could reach 20% growth, a milestone not seen since World War II, as reported on August 31, 2026.[1254749] The recent exchange of fire between the US and Iran has led to an increase in oil prices, as reported on August 31, 2026.[1198062][1254749]